Tuesday, October 15, 2019
Business

Bank Profits Rise

by BTM

Tue, 30 July 2019

national bank of bahrain business news

National Bank of Bahrain (NBB) announced another period of continued growth reporting a net profit of BD40 million and an operating profit of BD44.7 million for the first six months of the year ended 30 June 2019, an increase of 8.7 per cent and 17.3 per cent respectively on the prior year period. This was achieved despite provisions (funds set aside for anticipated future losses) of BD4.7 million, which were more than double the provision amount in the corresponding period in 2018. For the second quarter of 2019, the bank’s net profit increased by 14.6 per cent, to BD19.6 million, compared to BD17.1 million for the same period last year.

NBB chairman, Farouk Yousuf Khalil Almoayyed (pictured), said: “NBB continued to deliver strong growth and performance throughout the first half of 2019. Record results once again reflect the ongoing success of our strategy and the achievements made in transforming the bank with a focus on modernisation and further diversification and digitalisation of the business.

#BAHRAIN BUSINESS BITES #BUSINESS BITES #NATIONAL BANK OF BAHRAIN #BAHRAIN BUSINESS NEWS #BTM AUGUST 2019

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